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Company News, Business

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

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TomTom cuts 300 jobs

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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Ghitha Q2 profit $21.95 million

Ghitha, an IHC subsidiary, posted Q2 2022 profit of $21.95 million.
By TRENDS Desk
August 2, 2022 5:21 pm
  • The firm’s revenue reached AED576 million, a growth of 276 percent, soaring up from AED153 million in Q1-2021.
  • The company's total assets crossed AED4.1 billion for the first half of 2022, compared with AED1.4 billion for the year ending 2021.

Ghitha Holding, a subsidiary of International Holding Company (IHC), has posted a profit of AED 80.65 million ($21.95 million), surging by more than 471 percent for the same period last year.

The firm’s revenue reached AED576 million, a growth of 276 percent, soaring up from AED153 million in Q1-2021.

The company’s total assets crossed AED4.1 billion for the first half of 2022, compared with AED1.4 billion for the year ending 2021.

Ghitha said its strong set of financials reflects its high-yielding strategic expansion of its distribution, operation, frozen food, agriculture, and livestock divisions.

Dr. Mohammed Somar Ajalyaqin, Chairman of Ghitha Holding, said, “With the global supply chain remaining uncertain, we have ramped up long-term sustainable production on a regional scale to effectively mitigate the impact.”

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